MUV2.DE runs into sellers again around 188.90
Münchener Rück AG (MUV2.DE) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, MUV2.DE finished the week 2.24% higher at 187.50 after gaining €0.30 (0.16%) today. Today's closing price of 187.50 marks the highest close since May 28th. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.
Daily Candlestick Chart (MUV2.DE as at Jul 13, 2018):
Friday's trading range was €2.25 (1.19%), that's below last trading month's daily average range of €2.99. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
After trading as low as 186.65 during the day, the share bounced off the key support level at 187.05. The failure to close below the support might increase that levels importance as support going forward. After having been unable to move above 188.65 in the prior session, Münchener ran into sellers again around the same price level today, failing to move higher than 188.90. After trading as low as 186.65 during the day, the market found support at the 200-day moving average at 186.76.
The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.